Milan airport operator scraps IPO on weak investor interest

Milan airport operator SEA has scrapped a planned initial public offering (IPO) due to a lack of investor interest.
SEA, which operates Milan’s Linate and Malpensa airports, was aiming for a Dec. 6 listing on the Milan stock exchange, with a free float of 24%. However, the board was forced to call off the IPO late Friday because the subscription rate failed to reach 50% at the end of the book building process. The deadline for institutional investors to place orders was even ...